De Minimis Accounts definition

De Minimis Accounts is defined in the definition of “Collateral and Guarantee Requirement.”

De Minimis Accounts shall have the meaning assigned to such term in the Security Agreement.

De Minimis Accounts means any Deposit Account, Commodity Account or Securities Account so long as the balance in each such account, individually, does not exceed $1,000,000 at any time and the aggregate balance of all such Deposit Accounts, Commodity Accounts and Securities Accounts does not at any time exceed $2,000,000.

Examples of De Minimis Accounts in a sentence

• Borrower and each Guarantor will cause each of their respective Deposit Accounts, Commodity Accounts or Securities Accounts (in each case, other than De Minimis Accounts) to at all times be subject to an Account Control Agreement in accordance with and to the extent required by the Security Agreement.

• The Borrower shall, and shall cause the Guarantors to, deliver Deposit Account Control Agreements with respect to their respective Deposit Accounts (other than De Minimis Accounts) in accordance with the terms of and at such times as specified in [Section 4.14] of the Initial Security Agreement (as such Section may be amended from time to time including pursuant to the Amended and Restated Security Agreement).

• All of such Grantor’s Deposit Accounts, Commodity Accounts and Securities Accounts as of the Effective Date are listed on Exhibit B and any De Minimis Accounts as of the Effective Date are identified as such on Exhibit B.

• The Borrower shall, and shall cause the Guarantors to, deliver Deposit Account Control Agreements with respect to their respective Deposit Accounts (other than De Minimis Accounts) in accordance with the terms of and at such times as specified in Section 4.11 of the Initial Security Agreement (as such Section may be amended from time to time including pursuant to the Amended and Restated Security Agreement).

• Section 10(i) is amended in its entirety to read as follows: De Minimis Accounts.

More Definitions of De Minimis Accounts

De Minimis Accounts means deposit accounts (other than Daily Sweep Accounts) the aggregate principal balances of which do not exceed $2,000,000 at any time.

De Minimis Accounts means deposit accounts of the Borrower and the Guarantors that collectively have an aggregate balance of less than $2,000,000 and that are not subject to a Control Agreement.

De Minimis Accounts means deposit accounts or securities accounts of a Grantor with a balance not exceeding $500,000 at any time or an aggregate balance for all such deposit accounts and securities accounts not exceeding $1,000,000 at any time.

De Minimis Accounts means (a) any Deposit Account, Commodity Account or Securities Account so long as the balance in each such account, individually, does not exceed $250,000 at any time and the aggregate balance of all such Deposit Accounts, Commodity Accounts and Securities Accounts does not at any time exceed $1,000,000, (b) any Deposit Account that is a zero balance account or a Deposit Account for which the balance of such Deposit Account is transferred at the end of each date to a Deposit Account that is not a De Minimis Account, (c) any Deposit Account that is exclusively used to facilitate the payment of drafts presented by sellers or lessors of Mineral Interests, so long as the aggregate balance of any such Deposit Account does not at any time exceed the amounts of the drafts that have been presented and not subsequently withdrawn (or are reasonably expected to soon be presented) for drawing against such Deposit Account and (d) any other Deposit Accounts exclusively used for trust, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any employees of the Grantors or any of their Subsidiaries.

De Minimis Accounts are accounts of Borrower maintained with financial institutions other than Bank so long as the aggregate amount of funds in each such accounts does not exceed $50,000 individually or $250,000 in the aggregate (for all such accounts).

De Minimis Accounts means (a) any Deposit Account, Commodity Account or Securities Account so long as the balance in each such account, individually, does not exceed $1,000,000 at any time and the aggregate balance of all such Deposit Accounts, Commodity Accounts and Securities Accounts does not at any time exceed $3,000,000, (b) any Deposit Account that is a zero balance account or a Deposit Account for which the balance of such Deposit Account is transferred at the end of each date to a Deposit Account that is not a De Minimis Account, and (c) any other Deposit Accounts exclusively used for trust, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any employees of the Grantors or any of their subsidiaries.

De Minimis Accounts has the meaning assigned to it in the definition of “Collateral and Guaranty Requirements”.